Build New Home

[reneasworld]

 I am curious about a construction loan if I wanted to build a new home. My current FICO mortgage scores are 680, 659 and 657. I am sure once I get my  utilization between 30 to 50 % they will shoot up more. I am just curious at where should I start? What is the first step? I really am not looking to move in until about a year and a half from now but figure if I start now I can take my time and do everything right.

Any advice would be appreciated?

[ezdriver]

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@reneasworld wrote:

 I am curious about a construction loan if I wanted to build a new home. My current FICO mortgage scores are 680, 659 and 657. I am sure once I get my  utilization between 30 to 50 % they will shoot up more. I am just curious at where should I start? What is the first step? I really am not looking to move in until about a year and a half from now but figure if I start now I can take my time and do everything right.

Any advice would be appreciated?

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First step is to identify a builder and have a consultation. If you are a first-time homebuyer, or first time to custom build a house, the process will be mamaged by a general contraction. All lenders require that a general contractor be retained as a condition for a loan. A small local builder can also fill the role of general contractor.

All the best to you as your pursure homeownersip.

[reneasworld]

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@ezdriver wrote:

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@reneasworld wrote:

 I am curious about a construction loan if I wanted to build a new home. My current FICO mortgage scores are 680, 659 and 657. I am sure once I get my  utilization between 30 to 50 % they will shoot up more. I am just curious at where should I start? What is the first step? I really am not looking to move in until about a year and a half from now but figure if I start now I can take my time and do everything right.

Any advice would be appreciated?

---

First step is to identify a builder and have a consultation. If you are a first-time homebuyer, or first time to custom build a house, the process will be mamaged by a general contraction. All lenders require that a general contractor be retained as a condition for a loan. A small local builder can also fill the role of general contractor.

All the best to you as your pursure homeownersip.

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Thanks so much!